If your business is ready to start hiring, how good is your knowledge of employment law? Do you know what pay your staff is entitled to? If things go wrong and you have to fire someone, are you confident you can do it legally?
Alarmingly, recent research shows that a clear majority of small business operators have a very sketchy knowledge of the Fair Work Act, three years after its introduction.
The legislation may tie you up in infuriating red tape, but with hefty fines for non-compliance, it’s imperative that you make yourself aware of its main components.
Today, we run through the five essential points of the FWA that you really need to know.
Finally, if you’re a sole trader, keep an eye on your inbox this afternoon for SmartSolo, StartupSmart’s new weekly newsletter offering that will provide the self-employed with all the news, advice, tips and tricks to make their solo business journey a little easier.